logo-loader
viewOriole Resources PLC

Work Restarts in Senegal

/**/ link{ color: blue }visited{ color: #954F72 } .as{size:595.3pt 841.9pt;margin:72.0pt 72.0pt 72.0pt 72.0pt;}div.as{}p.ci{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm; text-align: center}span.cg{color:black}p.cj{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";line-height: normal; margin-bottom: 0cm; text-align: center}p.ck{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: normal; margin-bottom: 0cm}p.cl{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 6.0pt; text-align: center}p.cm{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;margin-right:0cm;margin-bottom:0cm; margin-left:-35.45pt;margin-bottom:.0001pt;line-height:normal}p.cn{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify;line-height:normal}span.bz{font-family:"Georgia","serif"; color:black} p.co{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify}span.by{font-size:11.0pt;font-family:"Calibri","sans-serif"}p.cp{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt;line-height: normal}p.cq{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-div: italic; line-height: normal; margin-bottom: 0cm; text-align: justify}p.cr{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; line-height:normal}span.bu{font-size:10.0pt;font-family:"Arial","sans-serif"}p.cs{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:6.0pt;margin-right:0cm;margin-bottom:6.0pt; margin-left:0cm;text-align:justify}span.ct{font-size:11.0pt; font-family:"Calibri","sans-serif";color:black}span.bs{font-size:11.0pt; font-family:"Calibri","sans-serif";color:black}span.br{font-size: 11.0pt;font-family:"Calibri","sans-serif"} span.bq{font-size:11.0pt;font-family:"Calibri","sans-serif";color:black}p.cu{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; line-height:normal}p.cv{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-top: 0cm; text-align: center}span.bo{font-size:10.0pt;font-family:"Arial","sans-serif";color:black}p.cw{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;text-align:justify}span.cx{font-size:11.0pt;font-family:"Calibri","sans-serif";color:black}span.cy{font-size:10.0pt;font-family:"Arial","sans-serif";color:black}span.bl{font-size:11.0pt;font-family: "Calibri","sans-serif"}span.cz{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black}span.da{font-size:11.0pt; font-family:"Calibri","sans-serif";color:#C00000} span.db{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black}span.dc{font-size: 11.0pt;font-family:"Calibri","sans-serif";color:#4D4D4D;background:white}p.dd{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-top:0cm;text-align:justify}p.de{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; line-height:normal}table.df{width:545.3pt;margin-left:-10.8pt;border-collapse:collapse}tr.bd{height:5.1pt}td.bg{width:266.65pt;padding:0cm 5.4pt 0cm 5.4pt; height:5.1pt}p.dg{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; line-height: 12.65pt; margin-bottom: 12.1pt}td.be{width:257.05pt;padding:0cm 5.4pt 0cm 5.4pt; height:5.1pt}p.dh{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:12.1pt;line-height:12.65pt} td.bc{width:257.05pt;padding:0cm 5.4pt 0cm 5.4pt;height:5.1pt}tr.ba{height:21.6pt}td.bb{width:534.5pt;padding:0cm 5.4pt 0cm 5.4pt; height:21.6pt}p.di{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; margin: 0cm; margin-bottom: .0001pt}p.dj{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt}span.ay{font-size: 11.0pt;font-family:"Calibri","sans-serif";color:black}span.dk{color:black}p.dl{margin-right:0cm;margin-left:0cm;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify}span.dm{font-size:10.0pt;font-family:"Calibri","sans-serif"; color:black}span.dn{font-size:11.0pt;font-family:"Calibri","sans-serif"; color:black} p.do{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; text-align:justify;line-height:normal}span.au{font-size:10.0pt; font-family:"Arial","sans-serif"}p.dp{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; text-align:justify;line-height:normal}p.dq{margin-top:0cm;margin-right:0cm;margin-bottom:8.0pt;margin-left:0cm;line-height:107%;font-size:11.0pt;font-family:"Calibri","sans-serif";margin-bottom:0cm;margin-bottom:.0001pt; text-align:justify;line-height:normal} /**/
RNS Number : 0517U
Oriole Resources PLC
20 November 2019
 

Oriole Resources PLC 

('Oriole Resources' or 'the Company' or 'the Group')

 

Work Restarts in Senegal

 

Oriole Resources, the AIM-quoted exploration company operating in West Africa, is pleased to provide an update on its Dalafin gold project ('Dalafin' or 'the Project') in Senegal, where IAMGOLD Corporation ('IAMGOLD') has the option to spend up to US$8 million to earn a 70% interest (announcement dated 1 March 2018).

 

IAMGOLD is currently in the second year of its investment, having completed 6,595 metres ('m') of aircore ('AC') drilling, 2,260m of reverse circulation ('RC') drilling and 507m of diamond drilling, to date, at Dalafin's southernmost prospect, Madina Bafé (announcements dated 6 February 2019 and 5 August 2019).

 

Following seasonal rains, IAMGOLD has advised the Company that it is preparing to restart its 2019/20 work programme. This will include a further planned 2,500m of RC drilling at Madina Bafé, to follow-up on the best results to date, as well as 3,500m of AC drilling at the Saroudia prospect, c.2km to the northwest (announcement dated 28 February 2019). Both prospects have the potential to identify additional mine feed for the Boto gold project, where mine permitting is anticipated later this year.

 

With IAMGOLD's exploration activities increasing in the immediate vicinity of Dalafin, including its recent discovery at the Karita project in Guinea, the Company believes that it is in a prime location for the exploration and discovery of further resources to add to the already significant gold endowment of the region.  

 

 

Oriole Resources CEO, Tim Livesey, said: "We are pleased to see IAMGOLD continuing to meet its obligations at Dalafin and look forward to seeing what the next set of results brings. Their success at Boto and along-strike of the Senegal-Mali shear zone continues to highlight the huge potential of the region to host significant and economic gold mineralisation. We are delighted to have such a powerhouse partnered with us on our licence and look forward to results from the upcoming drilling programme.

 

"Additionally, we are in the process of scheduling a technical review meeting with our partner early in the New Year to discuss the results to date and the next phase of the work programme, which we understand will progress the exploration further north. The most exciting target within the licence to date has been Faré as it has the potential to be a stand-alone deposit. We therefore look forward to the IAMGOLD team moving to that site in due course."

 

For further information, please see the Dalafin page of our website https://orioleresources.com/projects/dalafin/.

 

 

** ENDS **

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Following the publication of this announcement, this inside information is now considered to be in the public domain.

 

 

 

For further information please visit www.orioleresources.com,  @OrioleResources on Twitter, 

or contact:

 

 

Oriole Resources Plc

Tel: +44 (0)20 7830 9650

Tim Livesey / Bob Smeeton / Claire Bay




Blytheweigh (IR/PR Contact)

Tel: +44 (0)20 7138 3204

Tim Blythe / Megan Ray / Rachael Brooks




Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

Samantha Harrison / Ben Roberts / Niall MacDonald

WH Ireland

Adrian Hadden / Darshan Patel / Lydia Zychowska

 

Tel: +44 (0)20 7220 1666

 

Notes to Editors:

 

Oriole Resources PLC is an AIM-quoted exploration company, focused on West Africa. It is focused on early-stage exploration in Cameroon (Bibemi and Wapouzé projects) and the more advanced Dalafin gold project in Senegal, where IAMGOLD has the option to spend US$8m to earn a 70% interest. Year 1 commitments have been met at all three projects. The Company has several interests and royalties in companies operating throughout Africa and Turkey that could deliver future cash flow, and it continues to assess new opportunities in both regions.

.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
UPDKBLBLKFFEFBX

Quick facts: Oriole Resources PLC

Price: 0.375

Market: LSE
Market Cap: £2.63 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Oriole Resources' Tim Livesey updates on operations at Mines & Money London

Oriole Resources PLC's (LON:ORR) Tim Livesey caught up with Proactive's Andrew Scott while at Mines & Money in London 2019. Most recently Oriole's concluded the conversion of its interest in the Muratdere copper-molybdenum-gold deposit to a 1.2% post-tax net smelter return (NSR)...

1 week, 4 days ago

RNS

Holding(s) in Company

2 weeks, 3 days ago

Muratdere Converts to a 1.2% NSR

2 weeks, 3 days ago

Updated Presentation

2 weeks, 4 days ago

Second Price Monitoring Extn

2 weeks, 5 days ago

Price Monitoring Extension

2 weeks, 5 days ago

Strategic Update

3 weeks, 3 days ago

121 Mining Investment Conference

3 weeks, 4 days ago